ASIC is preparing to step up its investigation into allegations of irregular share trading by members of two prominent wealthy families by issuing a ”notice to produce” to Deutsche Bank after one of its employees was linked to its inquiries. (Business Day)

Babcock & Brown directors may have breached their duties and the corporations law by operating the investment bank while it was insolvent, and failing to get shareholder approval for a $40m loan to controversial broker Tricom Equities. (The Australian)

Bank of Queensland has been given until next week to respond to a draft legal action initiated by former customers of troubled finance group Storm Financial before formal legal action begins. (The Australian)

Think you’ve got it tough? Try working for $1.26 an hour. (News.com.au)